Loomis Sayles & Co. L P Has $20.03 Million Stock Position in ChampionX Co. (NASDAQ:CHX)

Loomis Sayles & Co. L P lowered its stake in ChampionX Co. (NASDAQ:CHX) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 664,313 shares of the company’s stock after selling 28,248 shares during the quarter. Loomis Sayles & Co. L P’s holdings in ChampionX were worth $20,029,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC boosted its position in shares of ChampionX by 12,607.0% in the second quarter. Millennium Management LLC now owns 3,120,847 shares of the company’s stock worth $103,643,000 after buying an additional 3,096,287 shares during the period. Magnetar Financial LLC purchased a new stake in ChampionX in the 2nd quarter worth about $72,860,000. Water Island Capital LLC acquired a new stake in ChampionX during the 2nd quarter worth about $35,384,000. Squarepoint Ops LLC purchased a new position in ChampionX during the 2nd quarter valued at about $21,669,000. Finally, Renaissance Technologies LLC acquired a new position in shares of ChampionX in the 2nd quarter valued at about $20,677,000. 98.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Deric D. Bryant sold 49,303 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $30.06, for a total transaction of $1,482,048.18. Following the completion of the sale, the insider now owns 337,409 shares in the company, valued at approximately $10,142,514.54. This represents a 12.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.38% of the stock is owned by insiders.

ChampionX Price Performance

CHX opened at $30.54 on Wednesday. The stock has a fifty day moving average price of $30.50 and a 200 day moving average price of $31.53. The company has a current ratio of 1.94, a quick ratio of 1.20 and a debt-to-equity ratio of 0.33. ChampionX Co. has a 1 year low of $25.46 and a 1 year high of $39.95. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 18.97 and a beta of 2.38.

ChampionX (NASDAQ:CHX) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.01). ChampionX had a net margin of 8.59% and a return on equity of 19.74%. The firm had revenue of $906.53 million for the quarter, compared to analyst estimates of $916.50 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Analysts forecast that ChampionX Co. will post 1.66 EPS for the current fiscal year.

ChampionX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $0.38 annualized dividend and a dividend yield of 1.24%. ChampionX’s dividend payout ratio (DPR) is 23.60%.

Analysts Set New Price Targets

Separately, Citigroup decreased their price target on shares of ChampionX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, November 14th.

ChampionX Profile

ChampionX Corporation provides chemistry solutions, artificial lift systems, and engineered equipment and technologies to oil and gas companies worldwide. The company operates through four segments: Production Chemical Technologies, Production & Automation Technologies, Drilling Technologies, and Reservoir Chemical Technologies.